Homebuyers report valuation lower than accepted offer

avr79 · 8 June 2012 at 10:26AM

Hi all - thanks for your help. Thought I'd give a bit of an update to you all.

We had an independent damp survey done on the property (using Joe Wilson @ JW Surveys - a very helpful guy) and found another £4000 of remedial work was required.

We also tried to get a compliance check on the valuation of the property and it came back with the same figure, so I held fast on that low offer and lost the purchase. The property is now back on the market, but I'm feeling quite relieved to step away from an over-inflated price that could have caused trouble later on.

Thanks again.

DannyboyMidlands · 8 June 2012 at 10:35AM

Thanks for the update. It's nice to hear. I'm glad you played hardball with your offer.

JQ. · 8 June 2012 at 11:34AM

Agree, thanks for the update it's always nice to hear the outcome of these things.

It might be worth letting the EA know that your revised offer still stands. If it's still on the market in 6 months they may be back to you with their tail between their legs.

*onlyme* · 8 June 2012 at 11:39AM

How much did they put it back on the market for?

avr79 · 8 June 2012 at 11:42AM

£535k. Interesting. It was on for £545k when I had my offer accepted for £537.5k.

It's now marked as SOLD STC (has been on the market for 2 weeks) so one of the other bidders must have stepped in - I wonder how their valuations are going....